境外央行类机构参与银行间债市投资更便利了

Core Viewpoint - The Central Securities Depository Co., Ltd. has announced the simplification of the investment process for foreign central bank-like institutions, effective from August 11, aiming to enhance the efficiency and convenience of their participation in China's interbank bond market [1][2]. Group 1 - The Central Securities Depository will no longer require foreign central bank-like institutions to provide a signed commitment letter, streamlining the entry process [1]. - The National Interbank Funding Center has also simplified the account opening and networking materials for foreign central bank-like institutions, eliminating the need for compliance commitment letters under both Bond Connect and settlement agency models [1]. - This initiative is expected to improve the convenience for foreign central bank-like institutions to invest in the interbank bond market, thereby increasing the internationalization of the domestic bond market and expanding financial market openness [1]. Group 2 - Previously, the process for foreign central bank-like institutions to enter the market involved three steps: registration, signing an agency agreement, and account opening [2]. - The People's Bank of China aims to steadily enhance the internationalization of the Renminbi and support the construction of a "dual circulation" new development pattern, which includes simplifying the investment process for foreign investors [2]. - The goal is to enrich the types of investable assets and facilitate the allocation and holding of Renminbi assets by central bank-like institutions [2].